IC Group’s Tiger of Sweden and By Malene Birger continue to struggle and Tiger has now announced cost-cutting measures, while IC's chairman is stepping down as part of the group's privatisation strategy.
IC Group's latest set of results make it clear that it has been hurt by costs related to its transformation plan, but also that its two core brands have plenty of work to do before they're back to full health.
Tiger of Sweden and By Malene Birger owner IC Group is selling its under-performing Saint Tropez brand to DK Company A/S and has also issued a warning that its remaining brands will be weaker than it had expected.
Designers Remix said on Wednesday that Charlotte and Niels Eskildsen have bought back IC Group’s 51% stake in the company and ended their co-ownership deal after 17 years. They plan a deeper focus on sustainability.